Caymans retreat

YORKSHIRE Water is planning to close its Cayman Island subsidiaries amid growing criticism about utilities’ murky finances.

One of Britain’s biggest water providers, the firm is also planning to review the Jersey registration of its holding company, Kelda Group, according to the Financial Times. The Mail revealed in August that Thames Water is also considering closing subsidiaries in the Cayman Islands.

Last week Jonson Cox, chairman of regulator Ofwat, criticised the financing of some companies. And Labour has threatened to nationalise water firms.